Studies: Ask/Bid Volume, Spread, Ratio

Ask/Bid Volume:

Press CTRL+P keys for the chart property form.   There are 3 check boxes [1], [2], and [3] to control the visual of the Ask/Bid Volume bars.  These are the boxes under the A/B label.   The three boxes in the right side column under the Volume label control the Volume bars.   Check the Show | Ask/Bid Volume box [1] to show a sub-window with the Ask Volume plotted above the center line and the Bid Volume plotted below the center line.  The sum of Ask Volume and Bid Volume make up the total Volume for the bar.  Ask Volume is the trade volume at the Ask (up ticks), and Bid Volume is trade volume at the Bid (down ticks).  Check the Show | Volume box [1], 2nd column, to show the Volume sub-window with Volume bars.   

Check the Candle Style boxes [2] to have the Ask/Bid Volume bars and Volume bars use a candle body style of a rectangle instead of a bar.  The example shows the Setup | Charts option for 3-D shading is enabled, which affects the style used by the chart bars and volume bars.  Check the Equi-Volume boxes [3] to have the volume bars vary in width.

The Ask Volume bars will plot using the Volume (Ask) color, and the Bid Volume color [4].   The Color Bar study applied to the Ask/Bid Volume is selected using the Ask/Bid combo box [5].   The Color Bar study applied to the Volume is selected using the Volume combo box [6].

Ask/Bid Volume Spread:

A DYO can calculate the Ask/Bid Volume Spread as shown in this example.

Line A calculates Ask Volume - Bid Volume and plots this spread using the Histogram marker in sub-window 1.

Ask/Bid Volume Spread Ratio:

A DYO can calculate the Ask/Bid Volume Spread Ratio as shown in this example.   The ratio is (Ask Volume - Bid Volume) / Total Volume.

Line A calculates the ratio.  Ask Ratio is  Ask Volume / Total Volume.   Bid Ratio returned by [$F] is Bid Volume / Total Volume.   Line B sets the label font size to 24 (see next section on Font Size).   Line C multiplies the ratio by 100, and initializes the paint can with the color green.   Line D conditionally changes the color in the paint can to red when the ratio is negative.  Line E outputs the label on the center line of the sub-window because Number is zero.  The color used by the font is the paint can color because the color selection is black.   [2`]  prints as the label the contents of Global Variable [2] using an integer format.